Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


NZ rounds out 3rd monthly trade deficit, dairy exports fall

NZ rounds out third monthly trade deficit as dairy exports fall

Nov. 27 (BusinessDesk) - New Zealand chalked up its third monthly trade deficit in October, repeating last year’s pattern, as shipments of dairy products fell and imports rose.

The deficit was $718 million last month from a revised gap of $775 million a month earlier, according to Statistics New Zealand. The annual deficit widened to $1.37 billion from a deficit of $880 million in the 12 months through September.

Exports in the month were valued at $3.46 billion, up from $3.3 billion in September, though down from $3.89 billion in October 2011.

Shipments of dairy products dropped 20.2 percent to $813 million in the latest month from a year earlier, while meat exports fell 6.6 percent to $277 million. Log exports grew 5.1 percent to $294 million and exports of crude oil tumbled 27 percent to $132 million.

Imports grew to $4.18 billion in October from $4.08 billion in September and were up from $4.11 billion in October 2011.

Imports of petroleum and related products rose 0.7 percent to $636 million last month from a year earlier. Imports of mechanical machinery fell 3.5 percent to $497 million while imports of vehicles and parts gained 4.5 percent to $454 million. Electrical machinery imports rose 11 percent to $412 million.

China was the biggest source of imports last month, rising 10.5 percent to $731 million, followed by goods from Australia, which fell 4 percent to $626 million. The US was in third place, falling 3.1 percent to $369 million.

Australia remained the biggest market for New Zealand products, with shipments falling 4.6 percent to $912 million, while those from second-ranked China fell 6.4 percent to $456 million, and from the US declined 8.7 percent to $281 million.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Suspected Black Widows: Table Grapes Withdrawn From Sale Following Spider Discovery

The Ministry for Primary Industries (MPI) is working closely with New Zealand produce retailers to have all imported Mexican table grapes withdrawn from sale following the discovery of spiders in a small number of consignments. More>>

ALSO:

Crown Accounts: 11-Month Surplus Beating Forecasts

Once minority interests’ share of revenues and expenses are removed, the total Crown’s operating balance before gains and losses (OBEGAL) was a surplus of $1,176 million in the eleven-month period. This compares to a forecast surplus of $193 million. More>>

ALSO:

Development: Screen Precinct Earmarked For Hobsonville Point

Auckland Council’s Auckland Development Committee has today passed a recommendation to create a screen precinct on council-owned land at Hobsonville Point. More>>

ALSO:

Scoop Business: NZ Business Confidence Plummets To Lowest Level Since GFC

New Zealands business confidence plunged to the lowest level in three years in the second quarter as companies became pessimistic about profitability expectations. More>>

ALSO:

Oceans: NZ Jumps Into International Shark Agreement

New Zealand has boosted the protection of sharks by signing the Memorandum of Understanding on the Conservation of Migratory Sharks. More>>

ALSO:

Insurance: EQC To Double Payout, Scrap Contents Insurance

New Zealand’s Earthquake Commission may double its payout amount, scrap contents insurance and process claims through private insurers under the government’s long-running review of funding and management of the state-run earthquake insurer. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news